BANDUNG, unpas.ac.id – Start-up companies running on financial technology (fintech) have been rapidly growing for the last few years. Fintech is the innovation in financial service which uses technology as its one of sources.
Fintech platform was specially arranged in detail for the purpose of certain financial transaction. Although they have been much popular, there are many people who have not understood the type and development of fintech yet, as well as its supervision.
In order to give people about fintech, Students’ Association of Accounting (Himpunan Mahasiswa Akuntansi, Himak) Faculty of Economics and Business (FEB) Universitas Pasundan holds a national seminar entitled “Terbentuknya Aktualisasi Diri Guna Memaksimalkan Pemahaman Mengenai Pengawasan di Bidang Keuangan dan Perbankan terhadap Financial Technology”, on Tuesday, 1 March 2022.
This event presented three keynote competent speakers in their fields, namely Noviyanto Utomo (Section Head of West Java Regional Office 2 for OJK Non-Bank Financial Industry Supervision, Zaldy Adrianto (Deputy of The Institute of Internal Auditors Indonesia-Bandung) and Nur Islami Javad (Chief of DEF Indonesia Sharing Vision and CEO of invst.id).
Head of Himak Unpas M. Farhan Revta said that fintech has provided easiness and advantages for people, especially in accelerating the effectiveness of financial transaction.
“The 4.0 industrial revolution encourages people to innovate. Fintech has proven that the technology advancement could actually be applied in both financial and banking. It will be getting more advanced, therefore people should also need to understand it more and earlier,” he said.
In his presentation, Noviyanto stated that fintech does not only make the financial transaction much easier, but also supports the increase of financial inclusion, financial access expansion and funding process in various regions, as well as helps people to obtain capital cost.
“The thing is, fintech is now becoming the payment or cost alternatives, apart from the conventional ones. The economic also grows in a more rapid way since the transaction is simple,” he said.
In Indonesia, there are several kinds of fintech, including Securities Crowd Funding (SCF), e-wallet, investment and risk management, P2P lending (including paylater feature), payment gateway, aggregator, and many more.
“Each of them has their own different kind of working method. But what is recently seen and discussed is that P2P lending or online loans,” he continued.
Generally, fintech P2P lending offers a fast-fund disbursement process, easy document requirements, easy time-and-place submission and easy process for financiers to choose which borrower is suitable to receive the funding.
“However, credit risk does not guarantee non-performing funding, so it is fully borne by the borrower. The interest is relatively high compared to banks or financial institutions. Lenders’ funds are also not guaranteed by the Deposit Insurance Corporation (LPS),” explained Noviyanto.
The rise of illegal P2P lending fintechs that are troubling the public also continues to be a concern for OJK. Noviyanto emphasized that the public must be able to distinguish between legal and illegal loan providers.
To prevent the illegal online loan, OJK also urges people not to click the link or call the contact sent to short message service (SMS) or Whatsapp Messenger. All they have to do is delete and block the number if any of this case occurred.
“Do not get tempted by easy-and-quick process of loan offer. You need to check company’s legal information before deciding to submit for a loan,” he advised. (Reta)*
